Advice please !

[Snatcher]

Imagine you were 55 years old and had redundacy staring you in the face

 

Lump sum after tax approx 50k and then a final salary pension which aint bad

 

So imagine I lived in Whitley Bay and decided to move to the Stranraer area (house prices are approx half our rate )

 

Buy a house and have approx 100k spare

 

What is my best avenue for the dosh????

 

Need good advice team,bearing in mind the TAX man.

 

Buy/let property,invest in shares,become a sugar daddy

[peterpikefisher]

the pub

[Snatcher]

That is plan A mate

[*Ant*]

Beer, fast cars and loose women mate....no point in wasting it.

[MJB]

A hefty donation to the "MJB needs more tackle fund".

[poledark]

Snatch, one thing to bear in mind is that if you lock it up in an annuity then you can't spend it and see it dribble away.

 

I/We had a similar decision to make (albeit I was 60, and Hazel was 54). All the advice given by "the experts" was to take the cash etc, but we decided to buy annuities which grow at 3% P/A and we have never regretted it.

 

I am certain that had we been able to "get our hands on the money" then most of it would have been spent by now (and it was a lot more than 100k)

 

Buy to rent is still a good option though!

 

Den

[Leon Roskilly]

er, How long before you die?

 

(unless you know that, it's likely to be a bad decision!)

 

Tight Lines - leon

[Snatcher]

Settle for approx 20 years hopefully!!

[Tony U]

Snatch

In the past I would have advised you to forget Stranraer and move to Spain, but property prices out there are ludicrous at the moment.

I would reckon you should follow Den's (Poledark's), advice.

Tony

[Norrie]

Snatcher, I've been looking at the buy to rent option too....seems like a good idea to me, and others too that I know do it....